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Fly News Breaks for August 3, 2018
EMKR
Aug 3, 2018 | 07:06 EDT
Northland analyst Tim Savageaux downgraded Emcore to Market Perform from Outperform, stating that while the company's Q3 report and outlook points to a long awaited trough and recovery in CATV optics revenue, new issues around manufacturing execution and product transitions have surfaced. The analyst, who noted the company still has a "significant" cash balance and attractive InP fab assets, lowered his price target on Emcore to $5.00 from $6.50.
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